Quotes of the pair USD/JPY US Dollar to Japanese Yen end the trading week near the 115.70 area. The pair continues to move within the framework of the growth and the ascending channel. Moving averages indicate a bullish trend. Prices have broken the area between the signal lines upward, which indicates pressure from the US Dollar buyers and a potential continuation of the rise. At the moment, we should expect an attempt to develop growth and test the resistance level near the 116.65 area. Then, a rebound downward and the continuation of the fall of the pair to the area below the level of 111.75.
USD/JPY Weekly Forecast January 10 — 14, 2022
An additional signal in favor of the fall of the Dollar/Yen pair in the current trading week will be a test of the downward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bullish channel. Cancellation of the option to drop the USD/JPY pair in the current trading week January 10 — 14, 2022 will be strong growth and a breakdown of the 117.65 area. This option will indicate a breakdown of the resistance area and the continuation of the rise of the pair on Forex to the area above the level of 119.85. Confirmation of a fall in the USD/JPY pair will be a breakdown of the support area and closing of the price below 115.05.
USD/JPY Weekly Forecast January 10 — 14, 2022 suggests an attempt to test the resistance level near the 116.65 area. Where can we expect the pair to continue falling to the area below the level of 111.75. An additional signal in favor of a decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the pair’s fall option will be a strong growth and a breakdown of the level of 117.65. This will indicate a continued rise in the pair with a potential target above the 119.85 area.
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